Zomato Essays

Zomato Essays Zomato Essay Zomato Essay Users reviews are what attracts people to enter Combat, creating a networking effect PEST Analysis Political Economical ; Certain countries, like China, have rigid laws about forbidding foreign websites to be accessed in the mainland ; Crisis people want to be more aware of their pending and prefer to browse first (check for price ranges) ; Crisis hit the restaurant sector hard, restaurants need to make the most of any marketing tool available Social Technological ; Tendency to want to be in, people want to know which are the most trendy places ; Increased number of people with smartness and access to APS (85 billion APS downloaded from July 2008 to October 2014 in the Apple store, source:Satanist) ; People are becoming more and more trustworthy of the reviews of real users Market Trends Today Educated consumer Businesses traditional marketing tools arent enough Consumer cares about: other peoples opinion Market trends some data 88% read reviews to determine the quality off local business 39% read reviews on a regular basis Restaurants and cafes are the businesses that most search more for reviews (source: Bright Local) 72% of consumers say that positive reviews make them trust a local business more 88% of consumers say they trust online reviews as much as personal recommendations Competitors worldwide Among hotels, rentals and flights, Transistor also has a restaurant browser with reviews and ratings Google Maps now also features restaurant search aggregating information and ratings associated with the acquired website GATE Yelp is a business search engine (restaurants represents 42% of the content) that has a social network component to it Foursquare works as a city guide providing personalized recommendations to the users An online city guide that provides information about businesses in several categories, restaurants being one of them Competitors in Portugal The site features the most comprehensive database of Portuguese tourism resources, not forgetting restaurants (description, pictures, price ranges, etc. ) Best tables is a platform Of dinning reservations with a lot information about restaurants Lisbon is a comprehensive guide/showcase of the best of the city of Lisbon, including bars and restaurants Differential Analysis Competitors Transistor Regional availability (no of countries) Number of unique monthly views Languages Number Of App number of platforms 45 MUM 30 MUM 4 MUM 28 8 15 MUM MUM :erasure MUM 12 MUM 3 Cityscapes 1 (USA) MM 2 20 MUM 6 62. M Google Maps Yelp Combat Porter 5 Forces Threat of new entrants Bargaining power of suppliers Competition and rivalry Threat of substitutes nonusers High threat of new entrants: new entrants 1. No legal barriers 2. Low sunk costs 3. Low cost of advertisement on the internet promote their business Low bargaining power of suppliers: easy for new entrants to 1 . Restaurants arent able to negotiate with Combat over what information is shown on their page. High bargaining power of consumers: 1 . Low switching costs 2. The existence of Combat depends on the reviews and ratings of the users, the consumers help build the service provided High threat of substitutes: 1 . Substantial amount of companies who do basically the same thing as 2. Switching costs arent high, consumers can get information from other sites or even magazines and city guides 3. With the development of technology, it is very easy for anyone to create a website of online reviews High competition ; Many competitors with good brand awareness offering generally the same service; ; On-line reviews websites are pretty easy to create ; Switching costs are generally low Opportunity: The specialization of Combat in the restaurants sector can make people who are looking for a place to eat/drink more trustful of Samoss data and information comparing with its competitors. This happens because Samoss team concentrates its energy in providing the best possible service of that one (and only) segment. Samoss positioning inside porter 5 forces ; Combat should add some special features to the platform to create more switching costs ; Combat should broader the geographical presence but always taking in mind the quality of the information provided ; The fact that Combat has price ranges and scanned menus is a good differentiator factor which makes them stand out from other competitors Combat inside web 2. 0 ; Web 2. 0 designates World Wide Web sites that emphasize exaggerated intent, which is the case of Combat. ; Combat is only possible because of user generated content, since it is based on the reviews Of its users. ; The platform also allows users to create their own food diaries and share their experiences with friends. ; This relationship that users have with Combat makes them more loyal to the platform, which ends up being a switching cost. Value creation McFarland Matrix Strategic -> Agreements with some restaurants to operational the home-delivery meals (food-ordering being the current long-term strategic goal of Combat) Potential -> Partnerships with relevant impasses (they could partner up with Best tables like they did with Bookstall in K) Operational Tracking of the online reviews -> Local teams to conquer more restaurants to the listings Us port ->Weekly reports to the listed restaurants about their page visitors/reviews Value chain Support Activities ; Human Resource Management the website has a list of all the available jobs according to country and position. The website has a blob which contains analysis posted by Mr.. Soya, sharing current events and strategies of the company, which help Combat sharing their vision to clients and investors. It is also available an inbox and a local telephone number where customers can leave opinions about the service. ; Technology will assist the company on their operation s, strategy and innovation. Customers post their reviews soon after their experience. Assist clients deciding each place better suits their food preferences. Clients are able to find which restaurants are closer to the desired location . Procurement Combat has its own team for approaching new restaurants and negotiate their entrance on the website. Sometimes, the opposite happens and are the restaurants that approach the company to negotiate their entrance. Primary Activities ; Inbound logistics Combat looks for potential restaurants that believe figuring in the website can be beneficial for both. All the information is hold on a virtual data-base. ; Operations -Combat collects information about the restaurants (price range, location, food type, in order to provide clients with the most information possible to figurate on the website. ; Outbound logistics the collected information is arranged by category to better suit the customers needs.

Bristol Beaufighter in World War II

Bristol Beaufighter in World War II General Specifications: Length:  41  ft., 4  in.Wingspan:  57  ft., 10  in.Height:  15  ft., 10  in.Wing Area:  503  sq. ft.Empty Weight:  15,592  lbs.Max Takeoff Weight:  25,400  lbs.Crew:  2 Performance: Maximum Speed:  320  mphRange:  1,750  milesService Ceiling:  19,000  ft.Power Plant:  Ã‚  2 Ãâ€"  Bristol Hercules  14-cylinder  radial engines, 1,600 hp each Armament: 4 Ãâ€" 20 mm  Hispano Mk III cannon4 Ãâ€" .303 in.  Browning machine guns  (outer starboard wing)2 Ãâ€" .303 in.  machine gun (outer port wing)8 Ãâ€"  RP-3 rockets  or  2Ãâ€" 1,000 lb.  bombs Design and Development In 1938, Bristol Aeroplane Company approached the Air Ministry with a proposal for a twin-engine, cannon-armed heavy fighter based on its Beaufort torpedo bomber which was then entering production.  Intrigued by this offer due to development problems with the Westland Whirlwind, the Air Ministry asked Bristol to pursue design of a new aircraft armed with four cannons.  To make this request official, Specification F.11/37 was issued calling for a twin-engine, two-seat, day/night fighter/ground support aircraft.  It was expected that the design and development process would be expedited as the fighter would utilize many of the Beauforts features. While the Beauforts performance was adequate for a torpedo bomber, Bristol recognized the need for improvement if the aircraft was to serve as a fighter.  As a result, the Beauforts Taurus engines were removed and replaced with the more powerful Hercules model.  Though the Beauforts aft fuselage section, control surfaces, wings, and landing gear were retained, the forward parts of the fuselage were heavily redesigned.  This was due to the need to mount the Hercules engines on longer, more flexible struts which shifted the aircrafts center of gravity.  To rectify this issue, the forward fuselage was shortened.  This proved a simple fix as the Beauforts bomb bay was eliminated as was the bombardiers seat.   Dubbed the Beaufighter, the new aircraft mounted four 20  mm Hispano Mk III cannons in the lower fuselage and six  .303 in. Browning machine guns in the wings.  Due to the location of the landing light, the machines guns were situated with four in the starboard wing and two in the port.  Using a two-man crew, the Beaufighter placed the pilot forward while a navigator/radar operator sat further aft.  Construction of a prototype commenced by using parts from an unfinished Beaufort.  Though it was expected that the prototype could be built quickly, the necessary redesign of the forward fuselage led to delays.  As a result, the first Beaufighter flew on July 17, 1939. Production Pleased with the initial design, the Air Ministry ordered 300 Beaufighters two weeks before the prototypes maiden flight.  Though a bit heavy and slower than hoped, the design was available for production when Britain entered World War II that September.  With the beginning of hostilities, orders for the Beaufighter increased, which led to a shortage of Hercules engines.  As a result, experiments began in February 1940 to equip the aircraft with the Rolls-Royce Merlin.  This proved successful and the techniques employed were used when the Merlin was installed on the Avro Lancaster.  During the course of the war, 5,928 Beaufighters were constructed at plants in Britain and Australia. During its production run, the Beaufighter moved through numerous marks and variants.  These generally saw alterations to the types power plant, armament, and equipment.  Of these, the TF Mark X proved the most numerous at 2,231 built.  Equipped to carry torpedoes in addition to its regular armament, the TF Mk X earned the nickname Torbeau and was also capable of carrying RP-3 rockets.  Other marks were specially-equipped for night fighting or ground attack. Operational History  Ã‚  Ã‚  Ã‚  Ã‚   Entering service September 1940, the Beaufighter quickly became the Royal Air Forces most effective night fighter.  Though not intended for this role, its arrival coincided with the development of airborne interception radar sets.  Mounted in the Beaufighters large fuselage, this equipment allowed the aircraft to provide a solid defense against German night bombing raids in 1941.  Like the German Messerschmitt Bf 110, the Beaufighter unintentionally remained in the night fighter role for much of the war and was used by both the RAF and US Army Air Forces.  In the RAF, it was later replaced by radar-equipped De Havilland Mosquitoes while the USAAF later supplanted Beaufighter night fighters with the Northrop P-61 Black Widow. Used in all theaters by Allied forces, the Beaufighter quickly proved adept at conducting low-level strike and anti-shipping missions.  As a result, it was widely employed by Coastal Command to attack German and Italian shipping.  Working in concert, Beaufighters would strafe enemy ships with their cannons and guns to suppress anti-aircraft fire while torpedo-equipped aircraft would strike from low altitude.  The aircraft fulfilled a similar role in the Pacific and, while operating in conjunction with American A-20 Bostons and B-25 Mitchells, played a key role in the Battle of the Bismarck Sea in March 1943.  Renowned for its ruggedness and reliability, the Beaufighter remained in use by Allied forces through the end of the war. Retained after the conflict, some RAF Beaufighters saw brief service in the Greek Civil War in 1946 while many were converted for use as target tugs.  The last aircraft left RAF service in 1960.  During the course of its career, the Beaufighter flew in the air forces of numerous countries including Australia, Canada, Israel, Dominican Republic, Norway, Portugal, and South Africa.

Infatuation versus love Essay Example | Topics and Well Written Essays - 500 words

Infatuation versus love - Essay Example It is believed that infatuation is a feeling that is not long lasting and keeps on decreasing with time whereas love on the other hand keeps on increasing with time and the emotional bond keeps on strengthening with the passage of time (Wheat et al 1980). Love and infatuation are both characterized by the want to engage with your loved one but they have possess different aspects. It is analyzed by sociologists that infatuation is basically a path that leads to love. It is considered to be the first step towards falling in love. Infatuation is an emotion where a person becomes occupied with the thoughts of the person that he admires. It is believed that infatuation is determined more from the physical outlook of the admired person rather than the character and the personality of the person. It is considered to be a constellation of emotions for the person being loved with respect to extreme intimate desire and obsession. It is argued that infatuation is basically an immature feeling a nd aspect of love. It tends to be away from the real world and a person stays in a different preoccupied world neglecting many realities. It is believed that infatuation is directed more towards all the good aspects of the person who is liked and it does not tend to see the person as a whole with all his negativities (Cox 2005).

Environmental Ethics Essay Example | Topics and Well Written Essays - 500 words - 2

Environmental Ethics - Essay Example Additionally, Aristotle observes that ethical living calls for application of wisdom that depends upon the situation at hand rather than the mere application of the set laws. He referred to this kind of as practical wisdom or prudence which is different from the theoretical wisdom(Kamtekar, 2004). On the contrary, Friedrich Nietzsche looks at ethics as untenable phenomenon. Nietzsche argues that ethics is deleterious and can just be relevant in the case of the highest types of human beings (Katsafanas, 2011). This is because ethics requires a high degree of consequentialist perfectionism of good. One thing to note however is that Nietzsche is a not a critic of morality in totality. He for example agrees with the notion of a higher morality that informs the living of higher men both of which he attacks and praises. Nietzsche offers an analysis of the existing values in a way that appeals to some morality of some kind. Nietzsche advocates for similarity of all people, free will and transparency(Katsafanas, 2011). However, Nietzsche argues for the harm of the highest men while advancing the interests of the lowest men. Further, Charles Darwin brings about the concept of evolutionary ethics which has two broad perspectives of normative ethics and descriptive ethics. Regarding descriptive ethics, it consists of biological ethical approaches anchored upon the role of evolution in determining human behaviour and psychology. Darwinism ethics is based on the scientific aspects of ethology, socio-biology and psychology with a focus on explaining and understanding preferences of ethics or choices (Lillehammer, 2010). On the other hand, normative ethics of evolution depicts a more independent attempt to singlehandedly use evolution to justify ethics in a society. Descriptive evolutionary ethics delve on the beliefs and moral attitudes. The ethical underpinnings discussed on this ethical

The Impact of ICT in the Local Community Essay Example for Free

The Impact of ICT in the Local Community Essay Redbridge The London borough of Redbridge is located in greater London. It has a good supply of technology and transport but all of this was possible because of ICT. Without ICT there would not have been an attraction of tourism and business. It now has a wider population than it did before and by day is improving. In this assignment I shall explain a variety of technologies and the uses they brought into the community. I will evaluate the effectiveness of the ICT in meeting the needs of the community. Oyster cards Oyster cards are electronic tickets used on Transport of London and national rail services. The card contains a unique code which the computer detects once you swipe it on an oyster card surface. Oyster cards are widely used in Redbridge. They bring in more tourists and travellers to Redbridge. The oyster card contains an electronic chip which is also used in Malaysia on their Touch n go cards. The advantages of the oyster card are, it is easier to use, can hold up to three ticket products at the same time, to prevent misuse the card must be swiped in the beginning of a journey and at the end of a journey. It also can store up to à ¯Ã‚ ¿Ã‚ ½ 90. The disadvantage of the oyster card is that it is only available in greater London and not in any other part of Great Britain. Also some oyester cards can be stolen and can be misused. Mobile phones A mobile phone is a portable electronic device for peer-to-peer telecommunications over long distances. Mobile phones are very widespread in Redbridge and have helped people telecommunicate in times of need. Whenever there is an emergency, people dont have to go to a phone booth to call someone because they can always reach into their pocket where they shall find a mobile phone. I can Mobile phones are found entertaining as well as useful because they have games, puzzles, video calling, movies, ring tones and some of them have access to the internet. All these things can fit into a mobile phone because of the large storage capacity it has. A mobile phone is a little like an organizer because it has a calendar to remind people of important dates like a meeting or special occasion and tells time. It also has an alarm clock to wake me up in the morning The disadvantages of a mobile phone are that sometimes the network will not work properly and others will not be able to hear the caller on the other line, it also makes funny noises at times. Another problem is that the mobile phone may freeze or crash suddenly which is bad because if someone is in a bad situation, then they could be in great danger. Some times the phone does not have enough storage and will ask you to delete a few items. Mobile phones have brought great uses to the community as we can all now interact with each other and stay in touch. Electronic article surveillance (EAS) In Redbridge there are many places to shop the most common is the Exchange. To keep safety levels up security alarms are used like EAS. Electronic article surveillance is a technological method for preventing shoplifting from retail stores or pilferage of books from libraries. Special tags are fixed to merchandise or books. These tags are removed or deactivated by the clerks when the item is properly bought or checked out. At the exits of the store, a detection system sounds an alarm or otherwise alerts the staff when it senses active tags. http://en.wikipedia.org/wiki/Electronic_article_surveillance#Types_of_EAS Electronic tags are of 4 types * Magnetic * Acousto-magnetic * Radio frequency * Microwave The advantages of EAS are that it prevents things from getting stolen and if a shoplifter tries to steal an item then they may be caught. This system will lower the levels of shoplifting in the community and will make people within Redbridge feel safe. The disadvantages of EAS are that sometimes false alarms may go of which can be very embarrassing for the customer especially when they are honest. It is also embarrassing for the business as they now have a very upset customer. These false alarms usually go of because the tag has not been deactivated properly. Also some shoplifters may be able to take the tag of which can bring a loss to the company. These tags are also very expensive to buy and can result into being a loss for small businesses. Automated teller machine (ATM An automated teller machine (ATM) is an unmanned automated telecommunications device which provides a customer with financial transactions in public space. On most ATMs a customer is recognized when a plastic card with a metal strip or a smartcard with a chip is inserted in an ATM, the card contains a unique code which only belongs to the card holder. The cardholder then needs to enter a personal identification number (PIN) for security reasons. The ATM gives customers access to their bank account. Using the ATM customers can check out their bank balances, deposit cash or cheques, pay bills, transfer money between bank accounts and buy goods or services. The advantages of ATMs are that instead of walking a long way to the bank we can access an ATM. In the Exchange mall there are many ATMs which is very useful because it is time efficient. Another great thing about ATMS are that everybody has a unique code which means there wont be any mix up. To make sure that ATMs are reliable they undergo a very expensive test. The disadvantages of ATMs are that thieves can use chemicals to break them apart and take all the money out. They can also cause damage to the ATM, this result into a loss for the company. The first known instance of a fake ATM was installed at a shopping mall in Manchester, Connecticut in 1993. By modifying the inner workings of a Fujitsu model 7020 ATM, a criminal gang known as The Bucklands Boys were able to steal information from cards inserted into the machine by customers. http://www.wired.com/wired/archive/1.05/atm_pr.html This incident goes against the Computer Misuse Act (1998). Overall I think that ICT has very much helped fulfill the needs of the community and has made Redbridge a much better borough to live in. It has benefited the community in many ways and has made Redbridge quite popular. Without ICT we would not have as many facilities we have now.

Soliloquies Essay - Self-Realization in Richard IIs Final Soliloquy

Self-Realization in Richard II's Final Soliloquy      Ã‚  Ã‚   William Shakespeare's The Tragedy of King Richard II, first published in a quarto edition in 1597, is the first in a sequence of four history plays known as the second tetrology, which deal with the early phases of a power struggle between the houses of Lancaster and York. The Richard II of the play has been called both mercurial and self-indulgent; however, several sustained soliloquies in the play demonstrate how deeply realized his character is. During one of these soliloquies, which takes place after his imprisonment and before his murder, he seems to rediscover the qualities of pride, trust, and courage that he lost when dethroned-and so goes onward to meet his death with a spirit more powerful than ever before.    The scene (5.5), begins in the keep of Pomfret Castle, where Richard is being held prisoner, and starts on a despondent note as he tries to reconcile his life in prison with the life he led as king:    I have been studying how I may compare This prison where I live unto the world; And, for because the world is populous, And here is not a creature but myself, I cannot do it. Yet I'll hammer it out. (5.5.1-5)    Despite his despondency, Richard begins to explore how he might live his life out within the microcosm of the keep, and still keep some semblance of his former life. He finds his life in the keep lacking because it is unpeopled. However, the last line indicates a turnabout in this attitude. He is beginning to fight back against the internal forces that threaten to drag him into despair and loneliness when he states, in line five, that he will à ¬hammer it out.à ®    Because a king needs a ... ... and the role that time will play henceforth in his life. These realizations have made him stronger, and fortified him against the future, for now he knows that he must depend upon himself, not upon the royal blessings of God.    With Richard's last words, we see the final result of this moment of truth, this self-realization, as he bravely assaults and kills two of his attackers before dying a noble death: à ¬Mount, mount, my soul! thy seat is up on high;/Whilst my gross flesh sinks downward, here to dieà ® (5.5.111-112).    Works Cited McKay, John P., Bennett Hill, and John Buckler. A History of World Societies. 3rd ed. Boston: Houghton Mifflin Company, 1992. 452-454. Shakespeare, William. The Tragedy of King Richard The Second. William Shakespeare: The Complete Works. Ed. Alfred Harbage. Baltimore: Penguin Books, 1969. 554-667.   

Big data analysis Essay

THE NEW INTELLIGENT ENTERPRISE Some of the best-performing retailers are using analytics not just for finance and operational activities, but to boost competitive advantage on everything from displays, to marketing, customer service and customer experience management. Big Data, Analytics and the Path From Insights toValue How the smartest organizations are embedding analytics to transform information into insight and then action. Findings and recommendations from the first annual New Intelligent Enterprise Global Executive study. BY STEVE LAVALLE, ERIC LESSER, REBECCA SHOCKLEY, MICHAEL S. HOPKINS AND NINA KRUSCHWITZ IN EVERY INDUSTRY, in every part of the world, senior leaders wonder whether they are getting full value from the massive amounts of information they already have within their organizations. New technologies are collecting more data than ever before, yet many organizations are still looking for better ways to obtain value from their data and compete in the marketplace. Their questions about how best to achieve value persist. Are competitors obtaining sharper, more timely insights? Are they able to regain market advantage, neglected while focusing on expenses during the past two years? Are they correctly interpreting new signals from the global economy — and adequately assessing the impact on their customers and partners? Knowing what happened and why it happened are no longer adequate. Organizations need to know what is happening now, what is likely to happen next and what actions should be taken to get the optimal results. COURTESY OF BEST BUY THE LEADING QUESTION How are organizations using analytics to gain insight and guide action? FINDINGS Top-performingorganizations are twice as likely to apply analytics to activities. Thebiggest challenges in adopting analytics are managerial and cultural. V isualizing data differently will become increasingly valuable. WINTER 2011 MIT SLOAN MANAGEMENT REVIEW 21 THE NEW INTELLIGENT ENTERPRISE ABOUT THE RESEARCH To understand the challenges and opportunities associated with the use of business analytics, MIT Sloan Management Review, in collaboration with the IBM Institute for Business Value, conducted a survey of more than 3,000 business executives, managers and analysts from organizations located around the world. The survey captured insights from individuals in 108 countries and more than 30 industries and involved organizations from a variety of sizes. The sample was drawn from a number of different sources, including MIT alumni and MIT Sloan Management Review subscribers, IBM clients and other interested parties. We also interviewed academic experts and subject matter experts from a number of industries and disciplines to understand the practical issues facing organizations today. Their insights contributed to a richer understanding of the data and the development of recommendations that respond to strategic and tactical questions that senior executives address as they operationalize analytics within their organizations. We also drew upon a number of IBM case studies to explore further how organizations are leveraging business analytics and illuminate how real organizations are putting our recommendations into action in different organizational settings. To help organizations understand the opportunity of information and advanced analytics, MIT Sloan Management Review partnered with the IBM Institute for Business Value to conduct a survey of nearly 3,000 executives, managers and analysts working across more than 30 industries and 100 countries. (See â€Å"About the Research. †) Among our key findings: Top-performing organizations use analytics five times more than lower performers. (See â€Å"Analytics Trumps Intuition. †) Overall, our survey found a widespread belief that analytics offers value. Half of our respondents said that improvement of information and analytics was a top priority in their organizations. And more than one in five said they were under intense or significant pressure to adopt advanced information and analytics approaches. The source of the pressure is not hard to ascertain. Six out of 10 respondents cited innovating to achieve competitive differentiation as a top business challenge. The same percentage also agreed that their organization has more data than it can use effectively. Organizational leaders want analytics to exploit their growing data and computational power to get smart, and get innovative, in ways they never could before. Senior executives now want businesses run on data-driven decisions. They want scenarios and simulations that provide immediate guidance on the best actions to take when disruptions occur — disruptions ranging from unexpected competitors or an earthquake in a supply zone to a customer signaling a desire to switch providers. Executives want to understand optimal solutions based on complex business parameters or new information, and they want to take action quickly. These expectations can be met — but with a caveat. For analytics-driven insights to be consumed — that is, to trigger new actions across the organization — they must be closely linked to business strategy, easy for end-users to understand and embedded into organizational processes so that action can be taken at the right time. That is no small task. It requires painstaking focus on the way insights are infused into everything from manufacturing and new product development to credit approvals and call center interactions. 22 MIT SLOAN MANAGEMENT REVIEW WINTER 2011 Top Performers Say Analytics Is a Differentiator Our study clearly connects performance and the competitive value of analytics. We asked respondents to assess their organization’s competitive position. Those who selected â€Å"substantially outperform industry peers† were identified as top performers, while those who selected â€Å"somewhat or substantially underperform industry peers† were grouped as lower performers. We found that organizations that strongly agreed that the use of business information and analytics differentiates them within their industry were twice as likely to be top performers as lower performers. Top performers approach business operations differently than their peers do. Specifically, they put analytics to use in the widest possible range of decisions, large and small. They were twice as likely to use analytics to guide future strategies, and twice as likely to use insights to guide day-to-day operations. (See â€Å"The Analytics Habits of Top Performers,† p. 24. ) They make decisions based on rigorous analysis at more than double the rate of lower performers. The correlation between performance and analyticsdriven management has important implications to organizations, whether they are seeking growth, efficiency or competitive differentiation. Three Levels of Capabilities Emerged, Each with Distinct Opportunities Organizations that know where they are in terms of analytics adoption are better prepared to turn challenges into opportunities. We segmented respondents based on how they rated their organization’s analytics prowess, specifically how thoroughly their organizations had been transformed by better uses of analytics and information. Three levels of analytics capability emerged — Aspirational, Experienced and Transformed — each with clear distinctions. (See â€Å"The Three Stages of Analytics Adoption. †) Aspirational. These organizations are the furthest from achieving their desired analytical goals. Often they are focusing on efficiency or automation of existing processes and searching for ways to cut costs. Aspirational organizations currently have SLOANREVIEW. MIT. EDU few of the necessary building blocks — people, processes or tools — to collect, understand, incorporate or act on analytic insights. Experienced. Having gained some analytic experience — often through successes with efficiencies at the Aspirational phase — these organizat ions are lo oking to go b e yond cost management. Experienced organizations are developing better ways to collect, incorporate and act on analytics effectively so they can begin to optimize their organizations. Transformed. These organizations have substantial experience using analytics across a broad range of functions. They use analytics as a competitive differentiator and are already adept at organizing people, processes and tools to optimize and differentiate. Transformed organizations are less focused on cutting costs than Aspirational and Experienced organizations, possibly having already automated their operations through effective use of insights. They are most focused on driving customer profitability and making targeted investments in niche analytics as they keep pushing the organizational envelope. Transformed organizations were three times more likely than Aspirational organizations to indicate that they substantially outperform their industry peers. This performance advantage illustrates the potential rewards of higher levels of analytics adoption. Information Must Become Easier to Understand and Act Upon Executives want better ways to communicate complex insights so they can quickly absorb the meaning of the data and take action. Over the next two years, executives say they will focus on supplementing standard historical reporting with emerging approaches that make information come alive. These include data visualization and process simulation as well as text and voice analytics, social media analysis and other predictive and prescriptive techniques. New tools like these can make insights easier to understand and to act on at every point in an organization, and at every skill level. They transform numbers into information and insights that can be readily put to use, versus having to rely on further interpretation or leaving them to languish due to uncertainty about how to act. ANALYTICS TRUMPS INTUITION The tendency for top-performing organizations to apply analytics to particular activities across the organization compared with lower performers. A likelihood of 1. 0 indicates an equal likelihood that the organizations will use either analytics or intuition. Tendency to Apply Tendency to Apply Intuition Analytics Financial management and budgeting Data Is Not the Biggest Obstacle Despite popular opinion, getting the data right is not a top challenge that organizations face when adopting analytics. Only about one out of five respondents cited concern with data quality or ineffective data governance as a primary obstacle. The adoption barriers that organizations face most are managerial and cultural rather than related to data and technology. The leading obstacle to widespread analytics adoption is lack of understanding of how to use analytics to improve the business, according to almost four of 10 respondents. More than one in three cite lack of management bandwidth due to competing priorities. (See â€Å"The Impediments to Becoming More Data Driven. †) Strategy and business development Sales and marketing Customer service Product research and development Top Performers Lower Performers General management Risk management Customer experience management Brand or market management Work force planning and allocation Overall Average 0 SLOANREVIEW. MIT. EDU 22. 1 Operations and production 1 2 3 4 5 6 7 8 WINTER 2011 MIT SLOAN MANAGEMENT REVIEW 23 THE NEW INTELLIGENT ENTERPRISE What Leaders Can Do to Make Analytics Pay Off — A New Methodology It takes big plans followed by discrete actions to gain the benefits of analytics. But it also takes some very specific management approaches. Based on data from our survey, our engagement experience, case studies and interviews with experts, we have been able to identify a new, five-point methodology for successfully implementing analytics-driven management and for rapidly creating value. The recommendations that follow are designed to help organizations understand this â€Å"new path to value† and how to travel it. While each recommendation presents different pieces of the information-and-analytics value puzzle, each one meets all of these three critical management needs: Reduced time to value. Value creation can be achieved early in an organization’s progress to THE ANALYTICS HABITS OF TOP PERFORMERS Top-performing organizations were twice as likely to use analytics to guide day-to-day operations and future strategies as lower performers. THE THREE STAGES OF ANALYTICS ADOPTION Three capability levels — Aspirational, Experienced and Transformed — were based on how respondents rated their organization’s analytic prowess. ASPIRATIONAL EXPERIENCED TRANSFORMED Motive †¢Use analytics to justify actions †¢Use analytics to guide actions †¢ se analytics to prescribe actions U Functional proficiency †¢Financial management and budgeting †¢Operations and production †¢Sales and marketing †¢All Aspirational functions †¢Strategy/business development †¢Customer service †¢Product research/development †¢ ll Aspirational and Experienced A functions †¢Risk management †¢Customer experience †¢Work force planning/allocation †¢General management †¢Brand and market management Business challenges †¢ ompetitive differentiation through C innovation †¢Cost efficiency (primary) †¢Revenue growth (secondary) †¢ ompetitive differentiation through C innovation †¢Revenue growth (primary) †¢Cost efficiency (secondary) †¢ ompetitive differentiation through C innovation †¢Revenue growth (primary) †¢ rofitability acquiring/retaining P customers (targeted focus) Key obstacles †¢ ack of understanding how to leverage L analytics for business value †¢Executive sponsorship †¢ ulture does not encourage sharing C information †¢ ack of understanding how to leverage L analytics for business value †¢Skills within line of business †¢ wnership of data is unclear or O governance is ineffective †¢ ack of understanding how to leverage L analytics for business value †¢ anagement bandwidth due to M competing priorities †¢Accessibility of the data Data management †¢ imited ability to capture, aggregate, L analyze or share information and insights †¢ oderate ability to capture, aggregate M and analyze data †¢ imited ability to share information and L insights †¢ trong ability to capture, aggregate and S analyze data †¢ ffective at sharing information and E insights Analytics in action †¢ arely use rigorous approaches to R make decisions †¢ imited use of insights to guide future L strategies or day-to-day operations †¢ ome use of rigorous approaches to S make decisions †¢ rowing use of insights to guide future G strategies, but still limited use of insights to guide day-to-day operations †¢ ost use rigorous approaches to make M decisions †¢ lmost all use insights to guide future A strategies, and most use insights to guide day-to-day operations 24 MIT SLOAN MANAGEMENT REVIEW WINTER 2011 SLOANREVIEW. MIT. EDU analytics sophistication. Contrary to common assumptions, it doesn’t require the presence of perfect data or a full-scale organizational transformation. Increased likelihood of transformation that’s both significant and enduring. The emerging methodology we’ve identified enables and inspires lasting change (strategic and cultural) by tactically overcoming the most significant organizational impediments. Greater focus on achievable steps. The approach used by the smartest companies is powerful in part because each step enables leaders to focus their efforts and resources narrowly rather than implementing universal changes — making every step easier to accomplish with an attractive ROI. Whether pursuing the best channel strategy, the best customer experience, the best portfolio or the best process innovation, organizations embracing this approach will be first in line to gain business advantage from analytics. have repeatedly heard that analytics aligned to a significant organizational challenge makes it easier to overcome a wide range of obstacles. Respondents cited many challenges, and none can be discounted or minimized: Executive sponsorship of analytics projects, data quality and access, governance, skills and culture all matter and need to be addressed in time. But when overtaken by the momentum of a single big idea and potentially game-changing insight, obstacles like these get swept into the wake of change rather than drowning the effort. THE IMPEDIMENTS TO BECOMING MORE DATA DRIVEN The adoption barriers organizations face most are managerial and cultural rather than related to data and technology. Lack of understanding of how to use analytics to improve the business Lack of management bandwidth due to competing priorities Lack of skills internally in the line of business Ability to get the data [RECOMMENDATION 1 ] First,Think Biggest Existing culture does not encourage sharing information Focus on the biggest and highestvalue opportunities Does attacking the biggest challenge carry the biggest risk of failure? Paradoxically, no — because big problems command attention and incite action. And as survey participants told us, management bandwidth is a top challenge. When a project’s stakes are big, top management gets invested and the best talent seeks to get involved. It’s extraordinarily hard for people to change from making decisions based on personal experience to making them from data — especially when that data counters the prevailing common wisdom. But upsetting the status quo is much easier when everyone can see how it could contribute to a major goal. With a potential big reward in sight, a significant effort is easier to justify, and people across functions and levels are better able to support it. Conversely, don’t start doing analytics without strategic business direction, as those efforts are likely to stall. Not only does that waste resources, it risks creating widespread skepticism about the real value of analytics. In our discussions with business executives, we SLOANREVIEW. MIT. EDU Ownership of data is unclear or governance is ineffective Lack of executive sponsorship Concerns with the data Perceived costs outweigh projected benefits No case for change Respondents were asked to select three obstacles to the widespread adoption of analytics in their organization. Don’t know where to start 0 10% 20% 30% 40% Percentage of respondents [RECOMMENDATION 2 ] Start in the Middle Within each opportunity, start with questions, not data Organizations traditionally are tempted to start by gathering all available data before beginning their analysis. Too often, this leads to an all-encompassing focus on data management — collecting, cleansing and converting data — that leaves little time, energy or resources to understand its potential uses. Actions taken, if any, might not be the most valuable ones. Instead, organizations should WINTER 2011 MIT SLOAN MANAGEMENT REVIEW 25 THE NEW INTELLIGENT ENTERPRISE start in what might seem like the middle of the process, implementing analytics by first defining the insights and questions needed to meet the big business objective and then identifying those pieces of data needed for answers. By defining the desired insights first, organizations can target specific subject areas and use readily available data in the initial analytic models. The insights delivered through these initial models will illuminate gaps in the data infrastructure and business processes. Time that would have been spent cleaning up all data can be redirected toward targeted data needs and specific process improvements that the insights identify, enabling iterations of value. Companies that make data their overriding priority often lose momentum long before the first insight is delivered, frequently because a data-first approach can be perceived as taking too long before generating a financial return. By narrowing the scope of these tasks to the specific subject areas needed to answer key questions, value can be realized more quickly, while the insights are still relevant. Also, organizations that start with the data or process change often end up with unintended consequences — such as data that is not extensible or processes that are ultimately eliminated — that require rework and additional resources to solve. Speeding Insights into Business Operations Compared with other respondents, Transformed organizations are good at data capture. (See â€Å"What Data-Transformed Companies Do. †) Additionally, Transformed organizations are much more adept at WHAT DATA-TRANSFORMED COMPANIES DO Transformed organizations felt more confident in their ability to manage data tasks than Aspirational organizations, which seldom felt their organizations performed those tasks â€Å"very well. † Percent of respondents whose organizations perform these tasks very well. Capture Information Transformed Aspirational 9% Aggregate Information 36% 4X more likely Analyze Information 28% 3% 9X more likely 26 MIT SLOAN MANAGEMENT REVIEW WINTER 2011 Disseminate Information and Insights 34% 4% 8. 5X more likely 21% 2% 10X more likely data management. In these areas, they outpaced Aspirational organizations up to tenfold in their ability to execute. Enterprise processes have many points where analytic insights can boost business value. The operational challenge is to understand where to apply those insights in a particular industry and organization. When a bank customer stops automatic payroll deposits or remittance transfers, for example, who in the organization should be alerted and tasked with finding out whether the customer is changing jobs or planning to switch banks? Where customer satisfaction is low, what insights are needed, and how should they be delivered to prevent defections? To keep the three gears moving together — data, insights and timely actions — the overriding business purpose must always be in view. That way, as models, processes and data are tested, priorities for the next investigation become clear. Data and models get accepted, rejected or improved based on business need. New analytic insights — descriptive, predictive and prescriptive — are embedded into increasing numbers of applications and processes, and a virtuous cycle of feedback and improvement takes hold. [RECOMMENDATION 3 ] Make Analytics Come Alive Embed insights to drive actions and deliver value New methods and tools to embed information into business processes — use cases, analytics solutions, optimization, work flows and simulations — are making insights more understandable and actionable. Respondents identified trend analysis, forecasting and standardized reporting as the most important tools they use today. However, they also identified tools that will have greater value in 24 months. The downswings in â€Å"as-is† methods accompanied by corresponding upswings in â€Å"to-be† methods were dramatic. (See â€Å"Where Are DataDriven Managers Headed? † p. 27. ) Today’s staples are expected to be surpassed in the next 24 months by: 1. Data visualization, such as dashboards and scorecards SLOANREVIEW. MIT. EDU 2. Simulations and scenario development 3. Analytics applied within business processes 4. Advanced statistical techniques, such as regression analysis, discrete choice modeling and mathematical optimization. Organizations expect the value from these emerging techniques to soar, making it possible for data-driven insights to be used at all levels of the organization. For example, GPS-enabled navigation devices can superimpose real-time traffic patterns and alerts onto navigation maps and suggest the best routes to drivers. Similarly, in oil exploration, three-dimensional renderings combine data from sensors in the field with collaborative and analytical resources accessible across the enterprise. Production engineers can incorporate geological, production and pipeline information into their drilling decisions. Beyond 3-D, animated maps and charts can simulate critical changes in distribution flow or projected changes in consumption and resource availability. In the emerging area of analytics for unstructured data, patterns can be visualized through verbal maps that pictorially represent word frequency, allowing marketers to see how their brands are perceived. Innovative uses of this type of information layering will continue to grow as a means to help individuals across the organization consume and act upon insights derived through complex analytics that would otherwise be hard to piece together. New Techniques and Approaches Transform Insights into Actions New techniques to embed insights will gain in value by generating results that can be readily understood and acted upon:  ¦ Dashboards that now reflect actual last-quarter sales will also show what sales could be next quarter under a variety of different conditions — a new media mix, a price change, a larger sales team, even a major weather or sporting event.  ¦ Simulations evaluating alternative scenarios will automatically recommend optimal approaches — such as the best media mix to introduce a specific product to a specific segment, or the ideal number of sales professionals to assign to a particular new territory.  ¦ Use cases will illustrate how to embed insights into business applications and processes. SLOANREVIEW. MIT. EDU New methods will also make it possible for decision makers more fully to see their customers’ purchases, payments and interactions. Businesses will be able to listen to customers’ unique wants and needs about channel and product preferences. WHERE ARE DATA-DRIVEN MANAGERS HEADED? Organizations expect that the ability to visualize data differently will be the most valuable technique in two years. Other techniques and activities that are currently delivering the most value today will still be done, but will be of less value. Today In 24 Months Historic trend analysis and forecasting Data visualization Standardized reporting Simulations and scenario development Analytics applied within business processes Data visualization Regression analysis, discrete choice modeling and mathematical optimization Analytics applied within business processes Simulations and scenario development Historic trend analysis and forecasting Clustering and segmentation Clustering and segmentation Regression analysis, discrete choice modeling and mathematical optimization Standardized reporting Respondents were asked to identify the top three analytic techniques creating value for the organization, and predict which three would be creating the most value in 24 months. In fact, making customers, as well as information, come to life within complex organizational systems may well become the biggest benefit of making data-driven insights real to those who need to use them. [RECOMMENDATION 4 ] Add, Don’t Detract Keep existing capabilities while adding new ones When executives first realize their need for analytics, they tend to turn to those closest to them for answers. Over time, these point-of-need resources come together in local line of business units to enable sharing of insights. Ultimately, centralized units emerge to bring a shared enterprise perspective — governance, tools, methods — and specialized expertise. As executives use analytics more frequently to inform day-to-day decisions and actions, WINTER 2011 MIT SLOAN MANAGEMENT REVIEW 27 THE NEW INTELLIGENT ENTERPRISE this increasing demand for insights keeps resources at each level engaged, expanding analytic capabilities even as activities are shifted for efficiencies. (See â€Å"How Analytics Capabilities Grow with Adoption. †) Sophisticated modeling and visualization tools, as noted, will soon provide greater business value than ever before. But that does not mean that spreadsheets and charts should go away. On the contrary: New tools should supplement earlier ones or continue to be used side by side as needed. That lesson applies to plines. (See â€Å"How Analytics Propagates Across Functions. †) In Transformed organizations, reusability creates a snowball effect, as models from one function are repurposed into another with minimal modifications. Over time, data-driven decision making branches out across the organization. As experience and usage grow, the value of analytics increases, which enables business benefits to accrue more quickly. Add Value with an Enterprise Analytics Unit HOW ANALYTICS CAPABILITIES GROW WITH ADOPTION The frequency with which analytics is used to support decisions increases as organizations transition from one level of analytic capability to the next. At the same time, analytics migrate toward more centralized units, first at the local line of business level and then at the enterprise level, while the portion of analytics performed at points of need and with IT remain stable. Percent using analytics frequently Where analytics performed 100% 80% Centralized analytic units 60% Line of business analytic units 40% 20% At point of need IT department 0% Aspirational Experienced Transformed nearly every way that analytics capabilities should be nurtured as an organization becomes more ambitious about becoming data driven: The process needs to be additive. As analytics capabilities are added upstream at increasingly central levels of management, existing capabilities at point of need shouldn’t be subtracted. Nor should they be transplanted to central locations. As new capabilities come on board, existing ones should continue to be supported. There are other ways that capabilities grow and deepen within an organization. Disciplines like finance and supply chain are inherently data intensive and are often where analytics first take root. Encouraged by early successes, organizations begin expanding analytic decision making to more disci28 MIT SLOAN MANAGEMENT REVIEW WINTER 2011 Organizations that first experience the value of analytics in discrete business units or functions are likely soon to seek a wider range of capabilities — and more advanced use of existing ones. A centralized analytics unit, often called either a center of excellence or center of competency, makes it possible to share analytic resources efficiently and effectively. It does not, however, replace distributed and localized capabilities; rather, the central unit is additive, built upon existing capabilities that may have already developed in functions, departments and lines of business. We found that 63% more Transformed organizations than Aspirational organizations use a centralized enterprise unit as the primary source of analytics. A centralized analytics unit can provide a home for more advanced skills to come together within the organization, providing both advanced models and enterprise governance through establishing priorities and standards by these practices:  ¦ Advance standard methods for identifying business problems to be solved with analytics.  ¦ Facilitate identification of analytic business needs while driving rigor into methods for embedding insights into end-to-end processes.  ¦ Promote enterprise-level governance on prioritization, master data sources and reuse to capture enterprise efficiencies.  ¦ Standardize tools and analytic platforms to enable resource sharing, streamline maintenance and reduce licensing expenses. In three distinct areas — application of analytic tools, functional use of analytics and location of skills — we found that adding capabilities without detracting from existing ones offers a fast path to full benefits from analytics-driven management. SLOANREVIEW. MIT. EDU [RECOMMENDATION 5 ] Build the Parts, Plan the Whole Use an information agenda to plan for the future Big data is getting bigger. Information is coming from instrumented, interconnected supply chains transmitting real-time data about fluctuations in everything from market demand to the weather. Additionally, strategic information has started arriving through unstructured digital channels: social media, smart phone applica

Henry Mintzberg Essay

Business Strategy 1.0 Introduction In the recent years the views of ‘strategic management’ has changed significantly. It has been critically studied and classified as a field of managerial practice that should have been given more thought. (Knights and Morgan, 1991) There are two essential parts to strategy, actions that are planned ahead and developed carefully according to many factors once implemented. A proper strategy created and implement to a company would give a competitive advantage over other companies. This report will address the position of the article in a wider debate as different scholars have different opinions in strategy. It will discuss about the theoretical underpinnings, strengths and weakness in Henry Mintzberg’s article â€Å"Crafting Strategy.† 2.0 Position and Theoretical Underpinnings According to Levy, Alvesson and Willmott most of the â€Å"current thinking is anchored by the work of Michael Porter and Henry Mintzberg.â€Å" (Levy, Alvesson and Willmott, 2003) Henry Mintzberg’s Crafting Strategy is based on research that was conducted over numerous years that focused on several organisations that have taken various decisions over a period of time. The decisions made by organisations were taken into account and put together as different types of strategy. His thesis was â€Å"the crafting image better captures the process by which effective strategies to come to be.† However â€Å"the planning image, long popular in the literature, distorts these processes and thereby misguides organisations that embrace it unreservedly.† (Mintzberg, 1987) The article appears to focus on an emergent approach to strategy. Mintzberg states, â€Å"a key to managing strategy is the ability to detect emerging patterns and help them take shape.† This is suggested through the fact that the role of a manager â€Å"is not just to preconceive specific strategies but  also to recognize their emergence elsewhere in the organization and intervene when appropriate† (Mintzberg, 1987). One of the earlier influential writers of strategy Philip Selznick who supported this theory wrote about the ‘character’ of an organization being separate and integrates â€Å"commitments to ways of acting and responding.† (Selznick 1957) Ghosal, Barlett et al also suggest this point by mentioning â€Å"it’s the focus in traditional strategy on value appropriation rather then value creation.† (Ghosal, Barlett et al, 1999) Mintzberg’s theory captures a mix of Richard Whittington’s classical and processual school of strategy. This is modelled in the article as the potter is characterized as a craftsman strategist. In Whittington’s model ‘developing and defining’ falls under Michael Porters classical ‘deliberate’ approach to strategy and thinking lies within Henry Mintzberg’s approach to emergent strategy. In the view of strategy Porter (1980; 1985), Andrews (1971) and Chandler (1962), the prescriptive approach to strategy is shown for its dependence on analysis and planning. This is also view is also supported by Graetz who suggests that strategic thinking is already considered necessary process closely linked to strategic planning. (Graetz, 2002) Wilson goes further by mentioning, â€Å"strategic thinking should replace strategic planning.† (Wilson. L., 1994) Heracleous proposes that strategic planning and strategic thinking is two distinct b ut related processes, strategic planning is analysis and strategic thinking involves synthesis. (Heracleous, 1998) Many scholars including Mintzberg who emphasizes heavily on the processes of learning, compromising and adjustment is that strategy is a process. He suggests that the planning and then implementing strategy is unsustainable for long term. (Mintzberg, 1990) In 1994 Mintzberg provided some evidence of the failure of planning. 3.0 Strengths Mintzberg’s does identify â€Å"there is no such thing as purely deliberate strategy or purely emergent one.† This is further emphasized when he states â€Å" all strategy making walks on two feet, one deliberate and the other emergent.† This suggest that deliberate and emergent is intertwined which is emphasized when Mintzberg mentions, â€Å"deliberate and emergent strategy form the end points of a continuum along which the strategies that are crafted in  the real world maybe found.† (Mintzberg, 1987) Mintzberg treated strategy differently from traditional literatures that only focused on one type of strategy. While other scholars associated themselves in four schools of strategy Henry Mintzberg defined ten schools of strategy. (Mintzberg, 1998) Crafting Strategy is positioned in the learning and design school. In this he suggested strategy as a ‘ploy’, which gives company a competitive advantage, as the strategy is misleading therefore, unpredictable thus competitors are unable to know what the company is planning. This is supported by Rumelt who mentions â€Å"one person’s strategies are another’s tactics – that what is strategic depends on where you sit.† (Rumelt, 1979) Crafting strategy shows flexibility and therefore makes it more prepared to implement. Henry Mintzberg states â€Å"strategies can be ‘form’ as well as ‘formulated.’ (Mintzberg 1987) It suggests that there is no standard approach to strategy thus every company or individual can use it as it is tailored to the company needs. According to Kipping as it is flexible it allows â€Å"freedom to craft their best strategy† (Kipping, 2010) 3.1 Weakness In this article Henry Mintzberg based his research on mass production companies such as Honda, Volkswagenwerk and General Motors. His conclusions about strategy derived from assessing these major companies may not be applicable to other companies as some managers are not competent to the strategy. This is mentioned by Noe who states â€Å"Emergent strategies†¦rely on the organization’s ability to learn from the actual experiences of employees at all levels† (Noe et al., 2003) Whittington states †mechanisms ensure that the strategy process remains objective rather than being captured by a particular management faction.† This suggests that managers are able to draw from extensive and less detectable sources of power. (Whittington, 1993). Mintzberg argues that the reality of strategy is not a planned organizational phenomenon but better characterized as an emergent. (Mintzberg et al., 1998) However Mintzberg fails to address these additional conditions suggested by Whittington that  are thought to be potentially vital points in strategic management. Stoney mentions that â€Å" In the strategic management model, responsibility for corporate level decision-making rests with a core or strategic elite who are discharged from the day-to-day responsibilities of operational activities, these being devolved to the lowest possible level of control.† (Stoney 1998) Supported by Anthony and Dearden mentioning that strategic planning is a function in the executive level that is designed to ensure that the direction is followed as set. (Anthony & Dearden 1976) This will help companies maintain a competitive advantage however as it is only based on executive level views lower ranked staff in the companies is ignored. This is suggested by Alvesson and Willmott who states, â€Å"broader power relations privilege the interests and viewpoints of some groups while silencing and marginalizing others. â€Å" (Alvesson and Willmott, 1996) Henry Mintzberg himself mentions this view by stating â€Å"senior management sets of broad guidelines a nd the leaves specifics to other lower down in the organization. (Mintzberg ,1974) As a few of Mintzberg’s theory is based on the processual school of strategy in Whittington’s model Levy, Alvesson and Willmott mentions it â€Å"provides a sceptical perspective on established classical and rational perspectives.† (Levy, Alvesson and Willmott, 2003) However it fails to explore in a wider perspective of domination or analyze the managerial assumptions. Alvesson and Willmott further states that in the processual school of strategy, Mintzberg’s view of power fails to look â€Å"within an intra-organizational perspective that eschews consideration of broader social and political structures.† (Alvesson and Willmott, 1966) This suggests that Mintzberg does not take into consideration many other factors that may be important to his view of strategy. 4.0 Conclusion Mintzberg does appear to focus most of his ideas towards emergent strategy however he does address that there can be no such thing as just deliberate or emergent strategy. (Mintzberg 1987) They both need to intertwine in order for the strategy to work. Crafting strategy is based on long-term learning, â€Å"errors become opportunities and limitations stimulate creativity†Ã‚  (Mintzberg 1987) This is what â€Å"causes the moulds streams of decision into patterns† as suggested by Hedbery and Jonsson. (Hedbery and Jonsson, 1977) 5.0 References Alvesson, M. and Willmott, H. (1996) Making Sense of Management: A Critical Introduction. London: Sage. Andrews, K.R. (1971) The Concept of Corporate Strategy. Homewood, IL: Irwin. Anthony, R & Dearden, J. (1976), Management control systems. Illinois: Homewood: Richard D Irwin. B. Hedbery and S. A. Jonsson, â€Å"Strategy Formulation as a Discontinuous Process,† International Studies of Management and Organisation, 7/2 (1977): 90 Chandler, A.D. (1962) Strategy and Structure: Chapters in the History of the American Industrial Enterprise. Cambridge, MA: MIT Press. David Ley, Mats Alvesson, Hugh Willmott. (2003). Critical Approaches to Strategic Management. In: Mats Alvesson, Hugh Willmott Studying management critically. Cornwall: Sage Publications. 92-110. Graetz, F. (2002). Strategic thinking versus strategic planning: towards understanding the complementaries. Management Decision, 40 (5), pg 456-462. Ghoshal, S., C. A. Barlett, et al. (1999). A New Manifesto for Management. Sloan Management Review 40 (3): 9-20. Heracleous, L. (1998). Strategic thinking or strategic planning? Long Range Planning, 31 (3), pg 481-487. Kipping. M. & Caillutet, L. (2010) ‘Mintzberg’s Emergent and Deliberate Strategies: Tracking Alcan’s Activities in Europe, 1928-2007’, Business History Review, 8 (4), pp.79-104. Knights, D. and Morgan, G. (1991) Corporate strategy, organisations, and subjectivity: A critique. Organisation Studies. 12(2): 251-73. Mintzberg, H. 1987. Crafting Strategy. Harvard Business Review 65 (July – August): 66-75. Mintzberg, H. (1990) The design school: Reconsidering the basic premise of strategic management. Strategic Management Journal. 11: 171-95. Mintzberg, H. (1994) The Rise and Fall of Strategic Planning. New York: Free Press. Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. M. (2003) Human Resource Management: Gaining a Competitive Advantage, 4th ed, New York: McGraw-Hill. Porter, M.E. (1980) Competitive Strategy: Techniques for Analyzing Industries and Competitors. New York: Free Press. P. Selznick, Leadership in Administration: A Sociological Interpretation (New York, NY; Harper & Row, 1957) p.47. A subsequent paper by the author (in process) on the â€Å"design school† of strategy formation shows the link of Selznick’s early work to the writings of Kenneth Andrews in the Harvard policy textbook. K.R. Andrews, The Concept of Corporate Strategy, Revised Edition (Homewood, IL: Down Jones-Irwin, 1987). Porter, M.E. (1985) Competitive Advantage: Creating and Sustaining Superior Performance. New York: Free Press. R. P. Rumelt, â€Å"Evaluation of Strategy: Theory and Models,† in D.E. Schendel and C. W. Hofer, eds., Strategic Management: A New View of Business Policy and Planning (Boston, MA: Little Brown, 1979), pp.196-212. Stoney, C. (1998) Lifting the lid on strategic management: A sociological narrative. Electronic Journal of Radical Organization Theory 4(1). Whittington, R. (1993) What is Strategy – and Does it Matter? London: Routledge. Wilson. L. (1994). Strategic planning isn’t dead – It changed. Long Range Planning, 27 (4), pg 12-24.

Great Expectations Essay Example

Great Expectations Essay Example Great Expectations Paper Great Expectations Paper Essay Topic: Great Expectations Exploring Dickens?f life experiences and social background, I learnt more about the complex figure Pip, the protagonist of Dickens?f novel Great Expectations. It may be said with immature, romantic idealism and innately good conscience that the popularity of this novel owes greatly to this character through his unusual grown experiences, exactly as Dickens himself did. It is an unfailing masterpiece, for Dickens?f skillful writing by symbolic use, the brilliant irony, and the sustained theme. Charles Dickens, Great Expectations, Pip, protagonist, narrator, idealism, conscience, symbolic, bildungsroman, self-improvement Charles Dickenss acknowledged masterpiece, Great Expectations, is rightly considered one of the greatest novels of all-time. Charles Dickens was born on February 7, 1812, and spent thefirst nine years of his life living in the coastal regions of Kent, a county in southeast England. Dickens?fs father, John, was a clerk in a navy pay office. He was kind and likable man , but he did not know how to take care of his financial situation and always ran into pecuniary troubles. When Dickens was nine, his family moved to London. When he was twelve, his father was arrested and taken to debtors?f prison. Dickens?fs mother moved his seven brothers and sisters into prison with their father, but she arranged for the young Charles to live alone outside the prison and work with other children pasting labels on bottles in a blacking warehouse . Dickens found the three months he spent apart from his family highly traumatic. Not only was the job itself miserable, but he considered himself too good for it, earning the contempt of the other children. After his father was released from prison, Dickens returned to school. He eventually became a law clerk, then a court reporter, and finally a novelist. Hisfirst novel, The Pickwick Papers, became a huge popular success when Dickens was only twenty-five. He published extensively a

How the Tropic of Cancer and Tropic of Capricorn Were Named

How the Tropic of Cancer and Tropic of Capricorn Were Named The Tropic of Cancer was named because at the time of its naming, the sun was positioned in the Cancer constellation during the  June solstice. Likewise, the Tropic of Capricorn was named because the sun was in the constellation Capricorn during the  December solstice. The naming took place about 2000 years ago, and the sun is no longer in those constellations at that time of year.  At the June solstice, the  Sun  is in Taurus, and at the December solstice, the sun is in Sagittarius. Why the Tropics Are Important Geographic features like the equator are reasonably straightforward, but the Tropics can be confusing. The Tropics were marked off because they are both places within the hemisphere where it is possible to have the sun directly overhead. This was an important distinction for ancient travelers who used the heavens to guide their way. In an age  when our smartphones know  where we are at all times, its hard to imagine how hard getting around used to be. For much of human history, the position of the sun and stars was often all explorers and traders had to navigate by.   Where the Tropics Are The Tropic of Capricorn can be found at latitude 23.5 degrees south. The Tropic of Cancer is at 23.5 degrees north. The equator is the circle where the sun can be found directly overhead at noon.   What the Major Circles of Latitude Are Circles of latitude are an abstract east and west circle that connects all places on Earth. Latitude and longitude are used as addresses for every part of the globe. On maps  latitude  lines are horizontal, and longitude lines are vertical. There is an infinite  number of latitude circles on earth. Arcs of latitude are sometimes used to define the boundary between countries that lack distinctive geographic borders like mountain ranges or deserts. There are five major circles of latitude. Arctic CircleTropic of CancerEquatorTropic of CapricornAntarctic Circle Living in the Torrid Zone The circles of latitude also serve to mark the boundaries between the geographical zones. The zone between the Tropic of Cancer and the Tropic  of Cancer is known as the Torrid Zone.  In the United States, this area is more commonly known as the tropics. This area comprises almost forty  percent of the globe. It is projected that by the year 2030, half of the global population will live in this area. When one considers the climate of the tropics its easy to see why so many people want to live there.   The tropics are known for their lush green vegetation  and moist climate. Average  temperatures range from warm to hot year round. Many places in the tropics experience rainy seasons which range from one to several months of consistent rainfall. Incidents of malaria tend to rise during rainy seasons. Some areas in the tropics such as the Sahara desert or Australian outback are defined as dry rather than tropical.

Fundamentals of Finance Essay Example | Topics and Well Written Essays - 2750 words

Fundamentals of Finance - Essay Example The company’s current drill and platform was purchased 3 years ago for  £10M. The firm depreciates the machine using MACRS over a 5 year recovery period when the assets are replaced due to very high maintenance costs. The company’s management estimates that after removal costs are taken into consideration, this platform can be sold for  £3.5M. The company can also buy a new high specification platform at a cost of  £14M plus installation costs of  £1M and still has an estimated life of 5 years. If they decide to go ahead with this purchase then the company’s working capital needs will change; accounts receivable will increase to  £1.5M, accounts payable will also increase to  £1M and inventory will increase to  £2M. Swindon is expected to be able to sell the new, proposed machine at the end of the 5-year period for  £4M while the present machine at the end of the same period is expected to generate  £2.5M. All else equal, the company expects to recover their Net Working Capital Investment at the end of the same period. The company’s tax rate is at 40%. The existing machine is expected to net  £3,500,000 each year for the next 5 years. Along with the C.F.O, the Operations Officer has also laid down the estimated cash flows of the company from the new drilling platform as follows: 1) DEBT: the company can raise an unlimited amount of debt by selling  £1,000 par value, 6.5% coupon interest rate, 10 year bonds on which annual interest payments will be made. To sell the issue, an average discount of  £20 per bond needs to be given. There also is an associated flotation cost of 2% of par value. 2) PREFERRED STOCK: the company can raise an unlimited amount of preferred stock under the following terms; (a) the security has a par value of  £100/share, (b) the annual dividend rate is 6% of the par value, (c) the flotation cost is expected to be  £4 per share. The preferred stock is expected to sell for  £102 before cost considerations.

Risk Management in the Jinjiang International Hotel in China Case Study

Risk Management in the Jinjiang International Hotel in China - Case Study Example According to Ehrbar (1998) management of organizational risk is presented with three outcomes. The first one is the intolerable situation which means that the source of the risk has to be abandoned or in cases where the source was technology then it can be replaced. If the risk is a natural hazard then vulnerabilities are reduced. The second outcome is intolerable situations. This shows that risks are to be handled within the limits of practical resource investments. This can be conducted either by corporate risk managers or regulatory agencies. The third outcome is that of acceptable situations. This can only be applied where the risks are small or negligible. This study shows the tools and techniques used in the management of risks and the implementation of the mechanism in both theory and practical examples.In order to control and evaluate risks, certain objectives are identified, these include; one, identifying the risk in time. The second objective is viewing the likelihood of t he risk and the financial impact on the business. The third is allocating resources available for control in order of priorities and later setting clear control objectives. Thompson (2002) shows fraud occurs in many ways depending on the authority granted in Hotels. Hotels are fixed cost and therefore and therefore implementing loss controls measures maximizes cash flows. In order to avoid an occurrence of risks in hotels, the following method should be followed. First one needs to identify and assess the threats involved as well as the vulnerability of critical assets to specific threats (Kotler 1998). Ways of reducing these risks should be identified and the measures based on strategies should be prioritized According to Cannon (1999) the principles of risk management should; create value by improving the organisational position. They should also be part of decision making and act as an integral part of the organisational processes. The principles should also aim at addressing uncertainty through systematic and structured ways basing on the best available information. They should be tailored in order to take account of the human factors. Â  Higuera and Haimes (1996) describe that a good risk plan for managing risk should contain a schedule to control implementation and responsible persons to be appointed for the actions. This paper studies The Jinjiang International Hotel in China that deals with restaurant services, fitness center, internet access, parking, and room service. The five-star deluxe hotels mostly target both tourists and locals living around. It offers an ideal location at the center of Wuhan’s Central Business District. The size of the business is quite large as it can accommodate about 1000 guests per night. It plans to improve its quality in order to bring it to the standards that the guests expect. It is located 30 minutes from the International Airport and 5 minutes from the railway station thus making it a good choice for both businessmen and leisure travelers. The hotel offers leisure, business and meeting standpoints with a destination restaurant, a hot spot bar, and a retail store. The company provides employment to about 400 people.